After reading through the 2004 Pfizer financials, I'm hoping that some one can help me understand the intangilble asset amount that Pfizer accounts for following acquisition of Pharmacia.

Pfizer carries an asset of $33 billion in intangible assets as of year-end 2004 ($40b prior to accumulated amortization). By far and away, the largest component is "developed technology rights" of $33b, gross.

I understand brands, licenses, etc. well enough, but developed technology rights (which I think they amortise over ten years) is something I don't.

Given stated equity of $56 billion, this makes it an important asset to understand.

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